Energy Select Sector SPDR Fund (NYSEARCA:XLE) Reaches New 52-Week High – Here’s Why

Energy Select Sector SPDR Fund (NYSEARCA:XLE) hit a new 52-week high on Wednesday . The company traded as high as $48.05 and last traded at $47.9990, with a volume of 7718480 shares trading hands. The stock had previously closed at $47.00.

Energy Select Sector SPDR Fund Price Performance

The firm has a market cap of $28.76 billion, a P/E ratio of 15.59 and a beta of 0.77. The firm’s 50-day moving average price is $45.16 and its 200 day moving average price is $44.27.

Institutional Investors Weigh In On Energy Select Sector SPDR Fund

Several hedge funds have recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Energy Select Sector SPDR Fund by 51.5% in the 4th quarter. Brighton Jones LLC now owns 9,363 shares of the exchange traded fund’s stock worth $802,000 after acquiring an additional 3,181 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Energy Select Sector SPDR Fund by 8.6% during the first quarter. AQR Capital Management LLC now owns 31,187 shares of the exchange traded fund’s stock worth $2,914,000 after purchasing an additional 2,480 shares during the period. Gallacher Capital Management LLC purchased a new position in Energy Select Sector SPDR Fund during the second quarter valued at approximately $401,000. Legacy Private Trust Co. acquired a new position in Energy Select Sector SPDR Fund in the 2nd quarter valued at approximately $407,000. Finally, Apella Capital LLC lifted its position in Energy Select Sector SPDR Fund by 20.0% in the 2nd quarter. Apella Capital LLC now owns 3,216 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 536 shares in the last quarter.

Energy Select Sector SPDR Fund Company Profile

Energy Select Sector SPDR Fund (the Fund) seeks to provide investment results that correspond generally to the price and yield performance of the Energy Select Sector Index (the Index). The Index includes companies from the following industries oil, gas and consumable fuels, and energy equipment and services. The Fund’s investment advisor is SSgA Funds Management, Inc